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Russia's high interest rates make export contracts unprofitable, says Rostec head - REUTERS
MOSCOW, Nov 26 (Reuters) - High interest rates in Russia are making export contracts unprofitable, Sergei Chemezov, the head of Russian state industrial conglomerate Rostec, said on Tuesday, warning of production slowdowns and bankruptcy risks.
Rostec, which is making almost 80% of the weapons and equipment for Russia's military campaign in Ukraine, is set to generate revenue of more than 3 trillion roubles this year, Chemezov said last month.
